Renewable energies in the Caribbean

Regulation & Policy, Renewables    Sep 2, 2019 3:21 PM

The government wants to diversify the energy matrix, promoting the development of renewable energy projects. The Colombian Caribbean is positioned as one of the regions with the greatest potential to develop these projects in the country.

According to La Republica, the Caribbean could increase the country’s competitiveness, thanks to its renewable energy potential.

The report recalls that renewable energies are key to generating sustainable development, through the energy generation from renewable resources.

La Republica recalled that the Inter-American Development Bank (IDB) believes that the Caribbean countries have huge potential in renewable energy sources.

“The above translates into an important opportunity for the region, being the path for competitiveness and mitigation of environmental impacts,” pointed out La Republica.

The IDB said the operating costs of renewable energies are lower compared to fossil fuels, and these sources could reduce prices in the region.

María Fernanda Suárez, Minister of Mines and Energy (MinEnergia), explained that the Colombian Caribbean region has “important” wind and solar characteristics, allowing it to have high potential for the development of unconventional renewable energies.

“The Caribbean has the opportunity to be a great power generator. That can change the dynamics of projects and will generate several employment opportunities,” highlighted Suarez.

Ocensa recalled that the government awarded 1,398 megawatts of renewable energy at the auction of reliability charges held in February this year

“Authorities awarded six wind projects in La Guajira and two solar projects in Cesar,” says the report.

Suarez said the government will continue to seek to promote new renewable energy projects in the country to increase its participation in the energy matrix.

“Renewables will gain a space in the energy matrix. As you can see, we export crude oil and coal, but not water or gas. We consume all the gas we produce,” said Suarez.

Bottom-Line: Without a doubt, the Colombian Caribbean has great potential in renewable energies and local authorities are doing a great job to attract investors to the region, especially to the city of Barranquilla.

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